Welcome to our dedicated page for Inscorp news (Ticker: IBTN), a resource for investors and traders seeking the latest updates and insights on Inscorp stock.
InsCorp, Inc. reports quarterly operating results and capital actions for INSBANK, its banking subsidiary. Updates commonly describe EPS, return metrics, efficiency ratio, loan and deposit growth, balance-sheet size, margin trends, and regulatory capital levels.
Company releases also cover INSBANK business lines such as commercial lending, commercial deposits, treasury services, private banking, commercial real estate and Medquity, its healthcare banking business with a national focus. Other recurring themes include quarterly dividends, market expansion such as Murfreesboro, board or management additions, asset quality, credit administration, charge-offs and lending-control reviews.
InsCorp, parent company of INSBANK (OTCQX:IBTN), reported record fourth quarter earnings of $1,743,000 or $0.60 per share, a significant increase of 115% compared to $809,000 in 2020. For the year, net income reached $6,029,000 or $2.06 per share, up 148% from the previous year. The bank's net interest margin improved for the fifth consecutive quarter, and total interest income rose by 10% to $24.9 million. A special dividend of $0.12 will be paid on March 4, 2022. Key highlights include a 13.5% growth in total assets and a 51.8% increase in non-interest bearing deposits.
InsCorp, Inc. (OTCQX: IBTN) reported record third quarter earnings of $1,626,000 ($0.55 per share), a significant rise from $343,000 ($0.11 per share) in Q3 2020. Year-to-date earnings reached $4,286,000 ($1.46 per share), marking a 164% increase compared to the prior year. The bank's net interest margin improved by 21 basis points, driven by lower deposit costs and strong loan growth of over 17% in core loans. Total assets grew by $94 million (16%) year-over-year. A dividend of $0.12 per share will be paid on December 10, 2021, enhancing shareholder value.
InsCorp, Inc. (OTCQX: IBTN) announced on October 29, 2021 the completion of a $10.0 million private placement of fixed-to-floating rate subordinated notes due 2031.
The notes will initially yield 3.75% annually, transitioning to a variable rate tied to three-month SOFR plus 287 basis points starting October 30, 2026. Proceeds are expected to support growth initiatives and may be used for common stock repurchase.
InsCorp, parent company of INSBANK (OTCQX:IBTN), reported second quarter earnings of $1,369,000, or $0.47 per share, marking a substantial increase from $549,000 and $0.19 per share during the same period in 2020. Year-to-date earnings reached $2,659,000, a 107.6% increase from last year. Key highlights include an 11.2% growth in total assets, improved net interest margin, and a favorable efficiency ratio of 51.1%. The bank generated $19 million in loans through the government’s SBA-PPP program and reduced non-interest expenses compared to peers.
InsCorp, parent of INSBANK (OTCQX: IBTN), reported Q1 earnings of $1.29 million ($0.44/share), a 60% increase from the previous quarter. Key factors include core loan growth, PPP income, and lower funding costs. Net interest income rose to $4.44 million, a 14% year-over-year increase. The board declared a semi-annual dividend of $0.12/share, payable June 11, 2021. Modified loans represent 12% of the portfolio, with significant deferments in impacted sectors. Non-performing assets increased to 1.9%. The bank maintains a strong capital position with a tier 1 capital ratio of 11.9%.
Inscorp, parent company of INSBANK (OTCQX: IBTN), reported 4th quarter earnings of $808,500, or $0.28 per share, marking an increase of $465,500 from the 3rd quarter. Key drivers included improved net interest margin and reduced loan loss provisions. Total assets grew by $63.5 million (11.5%) for 2020, with non-interest bearing deposits rising by 49%. However, 2020 earnings fell to $0.83 per share from $1.55 due to pandemic-related impacts. Despite challenges, management expressed optimism for 2021, citing digital growth and efficient business models as focus areas.